Key Takeaways
- • Digital asset prime broker FalconX has taken a majority stake in the parent company of multistrategy crypto hedge fund Monarq Asset Management, according to Bloomberg.
- • Terms of the transaction were not disclosed.
- • FalconX, headquartered in San Mateo, California, sees the investment as a way to broaden its institutional client base beyond hedge funds, proprietary trading firms and asset managers.
- • The deal signals FalconX's push to expand its asset management services.
Summary
FalconX, a digital asset prime broker headquartered in San Mateo, California, has acquired a majority stake in the parent company of Monarq Asset Management, a multistrategy crypto hedge fund, as the firm looks to grow its asset management business, according to Bloomberg.
The terms of the transaction were not disclosed. The privately held company is pursuing the investment as a means of expanding its institutional client base beyond the hedge funds, proprietary trading firms and asset managers it currently serves, according to Austin Reid, global head of revenue and business at FalconX.
The move reflects a broader strategy by FalconX to move beyond its core prime brokerage services and into asset management, positioning the firm to offer investment products alongside its trading and financing infrastructure. Because the deal's financial details were not released, its scale and valuation cannot be independently assessed from the available reporting.
The terms of the transaction were not disclosed. The privately held company is pursuing the investment as a means of expanding its institutional client base beyond the hedge funds, proprietary trading firms and asset managers it currently serves, according to Austin Reid, global head of revenue and business at FalconX.
The move reflects a broader strategy by FalconX to move beyond its core prime brokerage services and into asset management, positioning the firm to offer investment products alongside its trading and financing infrastructure. Because the deal's financial details were not released, its scale and valuation cannot be independently assessed from the available reporting.
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